AliExpress adds Yandex.Money as online payment option

Tuesday 1 July 2014 13:44 CET | News

Online marketplace AliExpress has begun integrating the Russia-based Yandex.Money payment platform to enable online shopping for Russian consumers.

Russian consumers shopping on AliExpress will be able to pay using their Yandex.Money e-wallets.

Additionally, shoppers will soon be able to pay for goods from the balance on their mobile phones or in cash at 170,000 locations including mobile retailers and Sberbank terminals.

According to official statistics, in 2013 more than 20 million packages from AliExpress sellers were sent to Russian shoppers, averaging 60,000 packages a day. Research conducted jointly by Yandex and GfK revealed that the Chinese platform is the second most popular foreign online store in Russia. Results also shownn that 14% of Russian users that have shopped at overseas online stores in the past 12 months expressed a preference for AliExpress. That is less than eBay (21% of users), but more than Amazon (10% of users).

Yandex.Money is an electronic payment service in Russia offering methods of paying online. The platform handles over 150,000 customer payments for goods and services daily. During 2013, Yandex.Money saw a 17% increase in payments for website building and hosting services among its users.

Launched in April 2010, AliExpress is a global retail marketplace targeted at consumers worldwide, many of them located in Russia, the US and Brazil. The platform enables consumers from around the world to buy directly from wholesalers and manufacturers in China. AliExpress is a business within Alibaba Group.

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Keywords: AliExpress, Yandex.Money, online payment, online marketplace, Russia
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce